Find Your Financial Health Fitbit

I wonder how many people in the world now own a fitbit, or some other fitness measurement device. To think of how technology has changed the world in such a short period of time. Gone are the days of having to read labels to count calories – now there’s an app to just scan barcodes and store information. Gone are the days of driving a route first to find out how far your walk/run is – now just use your phone’s GPS. When I see my wife walking laps late at night, I’m reminded it’s because she has a “step goal” which her device is tallying for her.

I think what makes this technology so popular is the ease with which we can now motivate ourselves. That little tracker holds us accountable to a simple goal we set for ourselves, like taking 15,000 steps in a day. It’s dumbed down important physical activity to something so simple to manage, to reference, and to hold ourselves accountable to. And it does so with amazing accuracy!

Wouldn’t it be great if we could have a financial health fitbit? Something that helped determined how we stacked up against a goal we set, that was accessible everyday to accurately measure progress and motivate us to do something differently if we got off track? That’s exactly what financial planning is.

I don’t have a specific app to suggest, but I do have a relationship. Having a personal financial consultant is like having a fitbit. Think about why the fitbit works so well. The process is similar and sounds a lot like what financial planning is supposed to be for our clients:

That’s the beauty of what the fitbit has become; such a simple tool to help measure specific variables we’ve identified as important to us. So find you financial planning fitbit, be it an app, a website, or a relationship. However you do it, track your spending and set a savings goal. Identify the lump sum savings need for retirement and then track your progress. Calculate a sustainable income plan once retired. Archive those tax savings events throughout the year so they aren’t forgotten…

And if all that still feels like more than you’re comfortable doing on your own, give us a call. We’re here to be your financial planning fitbit and to align your personal values, vision and wealth.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

No strategy assures success or protects against loss.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.